Demonetisation effect: MobiKwik to hire 1,000 this quarter

The digital payments firm will invest over Rs. 50 crore in a bid to expand its footprint.

Demonetisation did create a havoc for jobs across various sectors initially, but it seems it may indirectly generate new jobs as the online wallets are on a rise owing to the drive for a cashless economy.

Digital payments firm, MobiKwik, recently said it will invest over Rs. 50 crore and hire 1,000 people during this quarter as it looks to expand its footprint across cities like Mumbai, Pune, Bangalore, Kolkata, Hyderabad, Chennai, Ahmedabad, Noida, Lucknow, Vijayawada, Kochi, Jaipur and Chandigarh.

With an aim to enable 150 million users in India to transact on its platform by early 2018, MobiKwik is looking to establish offices in 13 cities by the end of the first quarter of 2017.

The company will be spending on setting up new offices to cater to regional requirements and will be hiring employees, pan India, across technical and non-technical requirements.

The Sequoia Capital-backed company has a network of over 10 lakh merchants and 45 million users.